Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Vertex Pharmaceuticals, Inc. shares valued at $2,689,860 were purchased by SACHS BRUCE I on Aug 01 ’24. At $508.00 per share, SACHS BRUCE I acquired 5,295 shares.
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Also, Kewalramani Reshma purchased 15,202 shares, netting a total of over 7,677,010 in proceeds.
Before that, Kewalramani Reshma had sold 15,202 shares from its account. In a trade valued at $7,677,010, the CEO & President traded Vertex Pharmaceuticals, Inc. shares for $505.00 each. Upon closing the transaction, the insider’s holdings decreased to 15,202 shares, worth approximately $46.01 million.
As published in their initiating research note from Redburn Atlantic on June 27, 2024, Vertex Pharmaceuticals, Inc. [VRTX] has been a Buy and the price target has been revised to $545. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in mid April. As of February 15, 2024, Wolfe Research has initiated its “an Outperform” rating for VRTX. Earlier on February 06, 2024, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for VRTX stock which previously was a “an Outperform”.
Analyzing VRTX Stock Performance
During the last five days, there has been a surge of approximately 2.75%. Over the course of the year, Vertex Pharmaceuticals, Inc. shares have jumped approximately 24.30%. Shares of the company reached a 52-week high of $510.64 on 08/01/24 and a 52-week low of $391.01 on 04/18/24. A 50-day SMA is recorded $477.42, while a 200-day SMA reached $420.34. Nevertheless, trading volume fell to 1.83 million shares from 1.03 million shares the previous day.
Support And Resistance Levels for Vertex Pharmaceuticals, Inc. (VRTX)
According to the 24-hour chart, there is a support level at 497.54, which, if violated, would cause prices to drop to 489.30. In the upper region, resistance lies at 512.33. The next price resistance is at 518.87. RSI (Relative Strength Index) is 68.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.46, which suggests the price will increase in the coming days. Percent R is at 15.24%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
